Gold & Silver Yukon
Selwyn Recce NWT Uranium Projects Uranium Exploration Overview Mann Lake & Huard-Kirsch Lakes Uranium Projects - Athabasca Basin,Saskatchewan
The Company's flagship project is its 100% owned, 18,314 acre Justin Gold Project located in the southeast Yukon. It is approximately 35 km southeast of the Cantung Mine and has an all season road running through its claims. A phase one 2,020 metre diamond drill program consisting of ten drill holes was carried out in 2011 on the Justin Project to assess the potential gold and silver mineralization at the property's never before drilled POW, Kangas and Confluence Zones. A significant new greenfield gold discovery was made at the POW Zone where Aben intercepted 60.0 metres of 1.19 g/t gold in hole JN11009 at a vertical depth of 113 metres. Additionally, a new high grade silver-copper zone was discovered 1.4 km away at the Kangas Zone with hole JN11003 returning 1.07 metres of 7320 g/t silver (234 oz/ton) and 3.52% copper near surface.
Aben holds interest in approximately 40,000 acres (160 square kilometres) of highly prospective ground within the eastern flank of the Athabasca Basin in northern Saskatchewan. Aben owns 49% of the Huard-Kirsch Lakes Uranium Project with Denison Mines Corp. (TSX: DML) owning the other 51%. The property is situated approximately 20 kilometres to the NW of Cameco Corporation's high-grade McArthur River Uranium Mine. Aben also owns a 40% interest and Canterra Minerals Corp. (TSX-V: CTM) owns the other 60% of the Mann Lake property, which is located approximately 25 kilometres to the SSW of the McArthur River Mine and 15 kilometres to the NE of Cameco's Millennium (U3O8) discovery, and occurs at the northern extent of the B1 conductor.
In June 2006 Cameco Corp, (TSX: CCO), UEM Inc., and International Enexco (TSX-V: IEC) joint venture on the adjoining Mann Lake property, which is adjoining Aben's Mann Lake project to the east, announced successful drill results. Two holes were drilled and targeted the western most conductor within a resistivity low. One hole intersected the unconformity at 517.8 metres and encountered four narrow intervals of basement-hosted uranium mineralization within 12 metres of the unconformity. The two highest-grade intervals averaged 7.12% U308 over 0.25 metres and 5.53% U308 over 0.4 metres.
In January 2013, Cameco Corporation (52.5%) with International Enexco (30%) and Areva Resources (17.5%) announced that a 21,000 metre (69,000 feet) diamond drill program on their Mann Lake uranium project (adjacent to Aben's Mann Lake Project) has commenced by the project operator, Cameco. The budget for the 2013 program is $6,000,000 and three rigs will be turning on the property. In November 2012, Denison Mines Corp. subscribed for 3,600,000 units of International Enexco at a price of $0.50 per unit for aggregate gross proceeds of $1,800,000. Denison's strategic investment was proportional to Enexco's portion of the 2013 exploration program on their Mann Lake Property.
The Company's goal is to increase shareholder value by developing exploration projects near world-class deposits that have the potential of becoming new discoveries.
Some of the properties were acquired from and past exploration was carried out by Eagle Plains Resources (TSX-V: EPL), a reporting issuer. The Company has not yet completed the work necessary to verify the past exploration results and since some of these results are historical in nature and some results predate National Instrument 43-101 standards, these results should not be relied upon.
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